Proactive Consulting for Professionals Limited

International Accounting Standards (IAS) For Practitioners

Objectives

As the project for aligning UK GAAP with International GAAP has developed, some firms are seeing that a few of their clients have a need to produce accounts using IAS and IFRS.

For a whole host of other reasons, general practitioners may need an understanding, rather than detailed knowledge of IAS’s. For example, some sole traders and partnerships may choose to use IAS to postpone profit recognition.

Content

This course will cover:

• Current applicability of IAS
• Effect of claiming IAS on Limited Companies, LLP’s, sole traders and partnerships
• Advantages of using IAS
• Status of the IFRSSE/FRSME project
• Measurement differences between UK and International GAAP
• Disclosure differences